Also, the $74.7 billion pension fund invested an additional $325 million total with four existing hedge fund managers. It invested $100 million in Beach Point Total Return Fund II, a credit hedge fund managed by Beach Point Capital Management, bringing the total to $200 million. Ohio PERS also invested an additional $75 million each in Taconic Opportunity Fund, an event-driven fund managed by Taconic Associates; Brigade Leveraged Capital Structures Fund, a credit fund managed by Brigade Capital Management; and Graham Global Investment Fund, a macro fund managed by Graham Capital Management. All three managers were running $200 million to $210 million before the additional assets.

Separately, the Ohio pension fund plans to hire two emerging markets debt managers to run $1.6 billion total. The search was initiated in January after the allocation was increased to 6% from 4%.